PAINFUL
ALTHOUGH IT IS PAINFUL FOR ALL OF US, THERE IS SOMETHING WONDERFUL IN SEEING THE ECONOMIC DOWNTURN OF OUR TIME! LOVELY TO WATCH THE BIG-THREE AUTOMAKERS GROVELLING, AND THE BIG WALL STREET BANKS GOING TO THEIR KNEES. TAKE THAT, YOU GREEDY BANKSTERS!
YES, ALL OF THE GREAT BARBECUE OF THE LATE 20TH AND VERY EARLY 21ST CENTURY WAS BUILT ON CREDIT.
AND CREDIT IS NO FOUNDATION UPON WHICH TO BUILD ANYTHING.
STAY TUNED……
NOTA BENE: PAUL KRUGMAN IS THE NEW MARX OF OUR ERA.